Section(s) Referred:s. 295
Date of Issue:9/5/2003
Notification No. 126 of 2003, dt. 9th May, 2003
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:
1. (1) These rules may be called the Income-tax (Fifth Amendment) Rules, 2003.
(2) They shall come into force from the 1st day of April, 2004.
2. In the Table to Appendix-I of the Income-tax Rules, 1962, in Part A relating to TANGIBLE ASSETS, under the heading “III. Machinery and Plant”, in sub-item (3), after entry (xi), the following shall be inserted, namely:
“(xia) Life saving medical equipment, being-
(a) D.C. Defibrillators for internal use and pace makers;
(c) Heart lung machine;
(d) Cobalt Therapy Unit;
(e) Colour Doppler;
(f) SPECT Gamma Camera;
(g) Vascular Angiography System including Digital substraction Angiography;
(h) Ventilator used with anaesthesia apparatus;
(i) Magnetic Resonance Imaging System;
(j) Surgical Laser;
(k) Ventilators other than those used with anaesthesia;
(l) Gamma knife;
(m) Bone Marrow Transplant Equipment including silastic long standing intravenous catheters for chemotheraphy;
(n) Fibre optic endoscopes including, Paediatric resectoscope/audit resectoscope, Peritoneoscopes, Arthoscope, Microlaryngoscope, Fibreoptic Flexible Nasal Pharyngo Bronchoscope, Fibreoptic Flexible Laryngo Brochoscope, Video Laryngo Brochoscope and Video Oesophago Gastroscope, Stroboscope, Fibreoptic Flexible Oesophago Gastroscope.
(o) Laparoscope (single incision)